Stevens Capital Management LP Takes $886,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Stevens Capital Management LP purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,805 shares of the business services provider’s stock, valued at approximately $886,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Automatic Data Processing during the third quarter valued at about $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing in the fourth quarter worth about $35,000. Raleigh Capital Management Inc. raised its position in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares in the last quarter. Bfsg LLC acquired a new position in Automatic Data Processing in the fourth quarter worth about $42,000. Finally, Carmel Capital Partners LLC raised its position in Automatic Data Processing by 43.4% in the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after purchasing an additional 69 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $0.27 during trading hours on Thursday, hitting $246.34. 1,224,474 shares of the company’s stock were exchanged, compared to its average volume of 1,796,831. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The business’s 50 day simple moving average is $247.01 and its 200-day simple moving average is $239.26. The company has a market capitalization of $101.19 billion, a PE ratio of 28.71, a PEG ratio of 2.32 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. Automatic Data Processing’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.27%. Automatic Data Processing’s payout ratio is currently 65.19%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.